WCB base forestry base rates increase by 20 per cent.

Brushing, spacing, treeplanting, and fire fighting WCB classification units base rates all jumped 20 per cent for 2004 largely due to the depressed investment market and higher than expected past claim costs. WCB has over $8-billion invested and like other investors those dollars have performed poorly lately. The result was an across the system half-billion dollar loss written down in 2002 and now coming home to roost in 2004 rates. Also caught up in the actuarial averaging were unanticipated high claim costs for 1997. That discrepancy is being made up for in 2004’s base rates. Depending on your experience rating the base rate increase’s effects on your company’s assessments may or may not reflect this trend.